RREEF Property Trust Inc., a publicly registered daily net asset value real estate investment trust advised by DWS Group, received October 2024 redemption requests in excess of the 2% monthly limit. As per the latest terms of its share redemption plan, it honored redemption requests on a pro rata basis up to the limitation. As such, each stockholder whose October redemption request was prorated received approximately 37.6% of their request.
This was an improvement on the previous month’s redemption requests in excess of the 5% quarterly limit. For September, each stockholder received 24.3% of their request.
The REIT also reported an updated daily net asset value per share of its common stock for October. Its NAV, as of Oct. 31, was as follows:
Class A shares had a NAV per share of $13.45 versus $13.50 Sept. 30, a decrease of approximately 0.37%.
Class I shares had a NAV per share of $13.54 versus $13.59 the previous month, a decrease of approximately 0.37%.
Class T shares had a NAV per share of $13.57 versus $13.61, a decrease of approximately 0.29%.
Class D shares had a NAV per share of $13.57 versus $13.62, a decrease of approximately 0.37%.
Class M-I shares had a NAV per share of $13.46 versus $13.51, a decrease of approximately 0.37%.
Class T2 shares had n NAV per share of $13.40 versus $13.45, a decrease of approximately 0.37%.
Class N shares had n NAV per share of $13.47 on Sept. 30 versus $13.52, a decrease of approximately 0.37%.
Class A shares are available to the general public, and Class I are available through fee-based programs and to institutional investors. Class D shares are currently being offered through a private placement offering while Class N and T shares are not available for purchase except through the REIT’s distribution reinvestment plan.
The company declared October 2024 gross distributions of approximately $0.07 per share (same as previous months), payable Nov. 4.
The REIT invests primarily in income-producing commercial real estate located in the United States, including office, industrial, retail and residential properties. The REIT also invests in the common and preferred stock of REITs and other real estate companies and debt investments backed principally by real estate. The company commenced its initial public offering in January 2013 (closed June 2016), its second public offering in July 2016 (closed January 2020), and its third public offering In January 2020 (closed August 2023). On Aug. 10, 2023, the company commenced its fourth public offering of up to $2 billion of common stock.
The company has raised approximately $397.8 million via a series of public and private offerings since January 2013. The estimated value of its investments in real estate as of June 30, 2024, was $495 million.
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